The Government is introducing a wage subsidy program to support employees and businesses affected by the Coronavirus. The JobKeeper Payment is designed to help businesses to cover the costs of their employees’ wages, so that more employees can retain their job and continue to earn an income
The decision to apply for the JobKeeper Payment should be made as a total business decision taking into account; legal obligations, business impact, cash flow implementation, business planning and record keeping requirements
This is complex legislation, the following is a simple summary guide only for businesses under $1 billion excluding NFP. We recommend all decisions be made in conjunction with advice from your professional advisors or contact us to discuss
Step 1 - Eligibile Employer
If you answered yes to all of these, check out details on eligible employer
Step 2 - Eligible Employees
Employees may be eligible if they are:
Step 3 - Next Steps
If you are an eligible employer and have eligible employees you can complete check the following steps
Step 4 - Paying Your Employees
You need to pay your eligible employees at least the minimum amount of $1500 per fortnight, you cannot pay your employees less than $1500 even if you re-hire them or they earn less than this. You will not be eligible for JobKeeper payment if you pay your nominated employee less than $1500 per fortnight.
Step 5 - Eligible Business Participant
With all the publicity surrounding JobKeeper and an employee's entitlement this is one area that can be overlooked.
You may be a eligible for JobKeeper payment scheme for one individual in the business for a payment of $1500 per fortnight if you meet the following -
1. Eligible Business Participant
2. Other Eligibility Requirements
Step 6. - Ongoing Reporting
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